Council Looks At Novel Way of Tackling the Housing Shortage

Rochdale Borough Council is looking at a novel way of tackling the housing shortage and helping first-time buyers on the ladder by selling a private residential property on a unique shared ownership basis. The empty properties team have bought a two-bedroom terraced house and are now looking to sell it on a part-ownership deal in a bold move designed it help first-time buyers get on the housing ladder. The council bought the property, which had been empty, for £75,000 and is now looking to sell the house for the same price on a 50 percent shared ownership basis. Read more on the buildingconstructiondesign website.

Social Housing Co-Op Given Thumbs Up

Tenants have given Rochdale Council the go-ahead to create England’s largest social housing co-operative. Rochdale tenants voted overwhelmingly in favour for the transfer of 13,700 homes to arms-length management organisation Rochdale Boroughwide Housing last night, with more than three quarters of those who voted agreeing to the move. The homes will officially transfer to RBH in March 2012. Membership of the co-operative will be open to all tenants and employees of RBH and a representative body will be established to work with the board and decide on major strategic issues, including future development plans. Read more on Inside Housing.

Rochdale to Create Largest Co-Operative

Rochdale Council’s ALMO has been given the green light by the housing minister to create England’s largest social housing co-operative after it proved it could raise finance from commercial lenders. Rochdale tenants are expected to vote on the proposed transfer of 13,700 homes to Rochdale Boroughwide Housing before the end of the year with the ALMO hoping the full transfer will be complete by the end of March 2012. The move was approved by Grant Shapps after RBH demonstrated to the Communities and Local Government department that it was able to raise the necessary finance - more than £100 million - from banks to fund up to 30 years of new building and maintenance work. Read more on Inside Housing.